Tuesday, 6 Apr 2010

Commodity Prices Pause as USD Gains; AUD Up on Rate Hikes

With such a light news day as today, very few market movements stand out in a short-term perspective. We can, however, see a small pause in the rising price of Gold, Silver, and Platinum since the USD has recently gained a boost from the rise in employment due to the surge in hiring for the US Census Bureau. Additionally, potential news regarding the recent discussion on monetary policy by the Federal Reserve will be published when the FOMC Meeting Minutes are released at 18:00 GMT.

In Pacific news, the market did experience a surge in the value of the Australian Dollar (AUD) this morning following the decision by the Reserve Bank of Australia (RBA) to hike interest rates from 4.00% to 4.25%. The move highlighted the continued strength of the Australian economy following the Great Recession of 2007-2009. As one of the few countries which escaped falling into recession, Australia's currency has enjoyed the benefits of rising strength these past months.